Latest news with #Mudrex
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Business Standard
14 hours ago
- Business
- Business Standard
Bitcoin slips to monthly low as Israel-Iran conflict spooks investors
Bitcoin price today, Friday, June 20, 2025: The ongoing geopolitical conflict in the Middle East between Israel and Iran, compounded by the US Federal Reserve's decision to hold interest rates, has pushed the flagship cryptocurrency Bitcoin to its lowest level this month, touching $103,940. Bitcoin, analysts said, is in a phase of consolidation due to global macroeconomic uncertainty. Bitcoin was trading at around $104,714.58, down 0.20 per cent, with a 24-hour volume of $36.34 billion, as of 11:40 AM on Friday, according to data from CoinMarketCap. The bellwether cryptocurrency recorded a 24-hour low of $103,940.78 and a high of $105,104.40. Bitcoin is currently 6.79 per cent lower than its peak of $111,970.17, scaled on 22 May this year. Bitcoin faces restistance at $106,200 levels Bitcoin, Edul Patel, Co-founder and CEO of Mudrex, said, remains in a consolidated range due to global macroeconomic uncertainty. Geopolitical tensions in the Middle East, combined with the US Federal Reserve's decision to hold interest rates, Patel believes, have led to a risk-averse stance in the market. "Despite holding above the critical $100,000 level for over 40 days, Bitcoin continues to see muted trading activity, showing limited buying pressure. Bitcoin hasn't acquired enough strength to make a strong move," said Patel. For Bitcoin, Patel sees immediate support at $102,400, while key resistance is forming near $106,200. Meanwhile, Himanshu Maradiya, Founder & Chairman of CIFDAQ, believes that the consolidation in the crypto market is due to microeconomic pressure. "The Fed's unchanged rates and lowered growth projections have investors cautious. Still, signs of structural adoption are strong. Coinbase and Circle stocks are soaring, driven by rising stablecoin and blockchain demand," said Maradiya. "Public companies are diversifying into Hyperliquid, and Eigencloud's a16z-backed launch signals the growing power of restaking and modular crypto infrastructure." Ethereum and other altcoins trade lower Meanwhile, Ethereum (ETH), the world's second-largest cryptocurrency by market capitalisation, was also following a similar trajectory. At last check, it was quoted trading at $2,507.62, down 0.76 per cent. Ethereum has fluctuated in the range of $2,486.10 to $2,544.83 in the last 24 hours. Among other popular cryptocurrencies, Hyperliquid (HYPE) was trading lower by 6.67 per cent, Ripple (XRP) by 2.67 per cent, Solana (SOL) was down 2.6 per cent, Cardano (ADA) was trading lower by 2.59 per cent, and Binance Coin (BNB) was trading lower by 0.46 per cent.
New Indian Express
2 days ago
- Business
- New Indian Express
US Stablecoin Bill to pave way for crypto's mainstream adoption: Exchanges
The US Senate has passed the GENIUS Act, which aims to regulate stablecoins, and crypto exchanges call this bill a major milestone as such regulatory clarity contributes to a shifting global crypto industry. The stablecoin (a type of cryptocurrency) bill will help provide a faster way to process transactions and stablecoins might turn into a mainstream form of payment. The passage of the GENIUS Act by the Senate marks the first clear signal from the US government that digital asset innovation and responsible regulation can go hand in hand. By establishing a framework for stablecoins, the Act lays the foundation for trust, transparency, and long-term growth, taking crypto mainstream, said Edul Patel, Co-founder and CEO of Mudrex. "For a rapidly growing market like India, it presents an opportunity to accelerate the work on the regulatory guidelines to potentially expand the stablecoins payments market," he added.
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Business Standard
2 days ago
- Business
- Business Standard
Bitcoin struggles at high levels, consolidates around $104k: What's next?
The crypto markets have been exhibiting a blend of optimism and caution. The flagship currency, Bitcoin (BTC), despite reclaiming the $107,068 level buoyed by favorable sentiments, has struggled to hold above it and slipped below the $104,000 mark. At 9:15 AM on Monday, May 19, Bitcoin was quoted trading at around $103,851.99, up 0.50 per cent. The world's most popular cryptocurrency had a 24-hour trading volume of $55.13 billion. Bitcoin's market capitalisation stood at $2.06 trillion, the highest among all cryptocurrencies. Bitcoin has traded in the range of $103,295.25 to $107,068.72 in the last 24 hours, according to data from CoinMarketCap. Bitcoin faces resistance $107,000 Bitcoin, Vikram Subburaj, CEO, Giottus Crypto Platform, said, needs to consolidate further above $103,000 before it can breach strong resistance placed at $107,000. The asset's performance is also dependent on the US stock indices, which are likely to have a pullback after a stellar week, delaying a surge in Bitcoin. "If Bitcoin decisively breaks $107,000, aided by strong ETF inflows, it would lead to new highs for Bitcoin, with strong rallies expected among altcoins. Until then, traders are advised to minimize their losses and be ready to deploy cash in case of a breakout," said Subburaj. Notably, the bellwether currency is nearly 4.6 per cent lower from its all-time high of $109,114.88 scaled on January 20 this year. Bitcoin, Alankar Saxena, CTO and co-founder of Mudrex, believes that it seems to be on the verge of forming a golden cross this week, similar to patterns seen in February and October last year, which historically preceded significant rallies and could once again propel prices to record highs. "A decisive breakout above $105,000 could signal a bullish continuation, paving the way for new all-time highs," said Saxena. However, a drop below the $102,500 support zone, Saxena believes, may trigger a short-term pullback toward $100,000. Ethereum and other altcoins Meanwhile, Ethereum (ETH), the world's second-largest cryptocurrency by market capitalization, was also facing resistance at higher levels. At last check, Ethereum was trading at around $2,384.64, down 3.6 per cent. Among other popular cryptocurrencies, Cardano (ADA) was trading lower by 1.45 per cent, Solana (SOL) was down 0.95 per cent, Binance Coin (BNB) was down by 0.56 per cent, and Ripple (XRP) declined by 0.20 per cent. Meanwhile, the US dollar-linked stablecoin Tether was trading at $1, down 0.01 per cent. Top trending cryptocurrencies Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Solana (SOL), and Pepe (PEPE) were among the top trending crypto coins on CoinMarketCap on Monday morning.
Time of India
3 days ago
- Business
- Time of India
From thrill to trust: How Gen-Z is redefining crypto investing in India
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel A few years ago, crypto investing in India was often seen as a high-stakes game—fuelled by the thrill of quick profits and meme-coin mania. But that's changing fast. Gen-Z and millennials, once drawn by the excitement, are now taking a more strategic approach—treating Bitcoin and other digital assets as long-term wealth to Edul Patel, CEO and Co-founder of Mudrex , today's young investors are no longer chasing overnight gains. 'The one common theme we hear from our users is that they just want to buy and hold. It's almost like no one sells Bitcoin anymore,' he told ET says the mindset shift has been especially noticeable over the past couple of years. 'Till a couple of years ago, people would start off with Rs 500 just to try and double their money in a few days. That's no longer the approach,' he said. 'Now, it's about parking funds regularly, doing SIPs, and making crypto a part of long-term asset holdings.'Mudrex data shows that this change is being driven primarily by Gen-Z and millennial investors. These younger cohorts are gradually allocating 3–5% of their portfolios to crypto, treating it more like digital gold than a lottery reason for this evolution is better access to information. Patel believes education is playing a key role in tempering unrealistic expectations. 'Early on, there was a lot of thrill-seeking behaviour. But now, that's not the case for the vast majority. People understand that past returns won't repeat, and they're incorporating that into their worldview.'Regulatory uncertainty hasn't deterred this new wave either. 'It is completely legal to buy, sell, and trade crypto in India,' Patel said, clarifying a common misconception. 'While there's no designated regulator yet, the government is actively working on it.'Despite the optimism, Patel advises caution. 'We typically recommend not investing more than 10% of your wealth in crypto. In fact, 3–5% is the sweet spot,' he said. He also encourages new investors to start small—Rs 2,000 to Rs 5,000 initially—before scaling up with consistent own investment style reflects this philosophy. 'I don't own stocks directly. I invest via mutual funds. Similarly, in crypto, I do SIPs in Bitcoin and Ethereum,' he revealed. 'It's not about timing the market—it's about time in the market.'The broader trend suggests that Indian crypto investors are maturing. From late-night trading frenzies to systematic investment plans, the landscape is changing—one Bitcoin at a regulatory clarity improves and financial literacy grows, crypto is steadily cementing its place in India's investment ecosystem—especially among the country's youngest and most tech-savvy investors.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Economic Times
3 days ago
- Business
- Economic Times
From thrill to trust: How Gen-Z is redefining crypto investing in India
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel A few years ago, crypto investing in India was often seen as a high-stakes game—fuelled by the thrill of quick profits and meme-coin mania. But that's changing fast. Gen-Z and millennials, once drawn by the excitement, are now taking a more strategic approach—treating Bitcoin and other digital assets as long-term wealth to Edul Patel, CEO and Co-founder of Mudrex , today's young investors are no longer chasing overnight gains. 'The one common theme we hear from our users is that they just want to buy and hold. It's almost like no one sells Bitcoin anymore,' he told ET says the mindset shift has been especially noticeable over the past couple of years. 'Till a couple of years ago, people would start off with Rs 500 just to try and double their money in a few days. That's no longer the approach,' he said. 'Now, it's about parking funds regularly, doing SIPs, and making crypto a part of long-term asset holdings.'Mudrex data shows that this change is being driven primarily by Gen-Z and millennial investors. These younger cohorts are gradually allocating 3–5% of their portfolios to crypto, treating it more like digital gold than a lottery reason for this evolution is better access to information. Patel believes education is playing a key role in tempering unrealistic expectations. 'Early on, there was a lot of thrill-seeking behaviour. But now, that's not the case for the vast majority. People understand that past returns won't repeat, and they're incorporating that into their worldview.'Regulatory uncertainty hasn't deterred this new wave either. 'It is completely legal to buy, sell, and trade crypto in India,' Patel said, clarifying a common misconception. 'While there's no designated regulator yet, the government is actively working on it.'Despite the optimism, Patel advises caution. 'We typically recommend not investing more than 10% of your wealth in crypto. In fact, 3–5% is the sweet spot,' he said. He also encourages new investors to start small—Rs 2,000 to Rs 5,000 initially—before scaling up with consistent own investment style reflects this philosophy. 'I don't own stocks directly. I invest via mutual funds. Similarly, in crypto, I do SIPs in Bitcoin and Ethereum,' he revealed. 'It's not about timing the market—it's about time in the market.'The broader trend suggests that Indian crypto investors are maturing. From late-night trading frenzies to systematic investment plans, the landscape is changing—one Bitcoin at a regulatory clarity improves and financial literacy grows, crypto is steadily cementing its place in India's investment ecosystem—especially among the country's youngest and most tech-savvy investors.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
